Three former top executives at Dewey & LeBoeuf LLP, including Chairman Steven Davis, were indicted Thursday in New York state court on charges they misled lenders, other lawyers and investors about the firm's financial health before it spiraled into bankruptcy.
The White House has clearly listened to the chorus of patent reform voices and worked with the U.S. Patent and Trademark Office to address the most pressing concerns. Of its initiatives, those that relate to ownership transparency, functional claiming examination changes and training, and crowdsourcing prior art may change the patent ecosystem’s status quo the most, says Wesley Helmholz of Orrick Herrington & Sutcliffe LLP.
As more and more Superstorm Sandy-related cases are filed, parties will be looking to a five-year-old New York Appeals Court case, Bi-Economy Market Inc. v. Harleysville Insurance Co. of New York — which permits insureds to recover consequential damages arising from an insurer’s bad faith breach of the policy if those damages were reasonably foreseeable and even if those damages exceed policy limits — for guidance, says Michael Richter of Joseph Hage Aaronson LLC.
While the U.S. Department of Justice and the Consumer Financial Protection Bureau's recent settlement with one of the largest auto lenders in the country sends a painfully clear message that the government intends to hold auto lenders responsible for disparities that occur in transactions originated by dealers that have markup discretion, many in the industry have expressed that the bureau has not been clear enough when it comes to its expectations for compliance, say attorneys at Loeb & Loeb LLP.
The First Circuit's recent decision in In re Munce’s Superior Petroleum Products Inc. is consistent with other circuits in concluding that noncompensatory environmental fines should receive administrative priority under the Bankruptcy Code. The decision, however, is at odds with other courts that have addressed the treatment of prepetition violations that result in post-petition penalties, say attorneys at Lowenstein Sandler LLP.
In a decision of national importance, the Ninth Circuit recently rejected environmental challenges to the 20-mile Honolulu Rail Transit Project. The decision is significant because it is based, in part, on recent federal legislation aimed at simplifying the complex and lengthy environmental process governing new highway and transit projects, says Robert Thornton of Nossaman LLP.
America's workforce today is a generational mix of Baby Boomers, Generation X and millennials, each with their own values, attitudes and communication styles. An ethics and compliance program strategy can promote more collaboration across generations by adopting three simple characteristics — multigenerational ambassadors, two-way dialog and information contextualization, says Marsha Hames of LRN Corporation.
As the mergers and acquisitions markets in Asia continue to mature, U.S. and European multinationals involved in such markets are more frequently experiencing the clash in approaches to M&A risk allocation. As a general matter, stock sale and purchase agreements negotiated by English lawyers tend to place greater risk on purchasers than is typical in agreements negotiated by U.S. lawyers, says Jonathan Stone of Skadden Arps Slate Meagher & Flom LLP.
In the year since the U.S. Supreme Court's decision in Comcast Corp. v. Behrend, nearly 200 cases have cited the ruling, but the only consensus reached is that its significance for class actions is unsettled. However, notwithstanding the lower courts’ inconsistent application of Comcast's “rigorous analysis” of damages model evidence, a few guiding principles have emerged, say Erik Snapp and Quinn Shean of Dechert LLP.
Section 503(b) of the Bankruptcy Code provides a unique opportunity for creditors to aid the estate in recovering assets and to be compensated for their efforts. However, a recent Florida court decision highlights the consequences of leaping to undertake such efforts but failing to obtain prior permission, says Reagan Boyce of Ezra Brutzkus Gubner.
Whether ensuring wage-hour compliance, implementing a new internship program or conducting a background check, hospitality employers must always be aware of the pitfalls. For example, while screening new hires through background checks may seem like the best way to limit liability and protect guests, a blanket disqualification may be viewed as an indirect form of race discrimination, say Bethanie Barnes and John Mavros of Fisher & Phillips LLP.